| Basis of Allotment |
| (THIS IS ONLY AN ADVERTISEMENT FOR INFORMATION PURPOSES AND NOT A PROSPECTUS ANNOUNCEMENT) | ||
|
EVANS ELECTRIC LIMITED | |
| CIN: U74999MH1951PLC008715 | ||
Our Company was originally incorporated as "Evans Electric Private Limited" on December 29, 1951 vide Registration no. 008715 (CIN: U74999MH1951PTC008715) under the provisions of the Companies Act, 1913 with the Registrar of Joint Stock Companies. Bombay. Further, pursuant to Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on February 18, 2019. Our company was converted into a Public Limited Company and consequently the name of our Company was changed from "Evans Electric Private Limited" to "Evans Electric Limited" vide a fresh Certificate of Incorporation dated March 13, 2019 issued by the Registrar of Companies, Mumbai. The Corporate Identification Number of our Company post conversion is U74999MH1951PLC008715. For further details please refer to chapter titled "History and Certain Corporate Matters" beginning on page 96 of the Prospectus.
| Registered Office: 430, Orchard Mall, 3rd Floor, Royal Palms Estate, Aarey Milk Colony, Goregaon East, Mumbai, Maharashtra, 400065, India |
| Corporate Office: 431, Orchard Mall, 3rd Floor, Royal Palms Estate, Aarey Milk Colony, Goregaon East, Mumbai, Maharashtra, 400065, India |
| Website: www.evanselectric.co.in | E-mail: cs@evanselectric.co.in | CIN: U74999MH1951PLC008715 |
| Contact Person: Mr. Deepak Y Patil, Company Secretary & Compliance Officer |
| BASIS OF ALLOTMENT |
INITIAL PUBLIC OFFER OF 3,72,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH (THE "EQUITY SHARES") OF EVANS ELECTRIC LIMITED ("OURCOMPANY" OR "EEL" OR "THE ISSUER") AT AN ISSUE PRICE OF RS. 52 PER EQUITY SHARE FOR CASH, AGGREGATING UP TO RS. 193.44 LAKHS ("PUBLIC ISSUE") COMPRISING OF A FRESH ISSUE OF 3,72,000 EQUITY SHARES AGGREGATING RS. 193.44 LAKHS ("FRESH ISSUE") OUT OF WHICH 20,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH, AT AN ISSUE PRICE OF RS. 52 PER EQUITY SHARE FOR CASH, AGGREGATING RS. 10.40 LAKHS WILL BE RESERVED FOR SUBSCRIPTION BY THE MARKET MAKER TO THE ISSUE (THE "MARKET MAKER RESERVATION PORTION"). THE ISSUE LESS MARKET MAKER RESERVATION PORTION I.E. ISSUE OF 3,52,000 EQUITY SHARES OF FACE VALUE OF RS. 10 EACH. AT AN ISSUE PRICE OF RS. 52 PER EQUITY SHARE FOR CASH, AGGREGATING UPTO RS. 183.04 LAKHS IS HEREIN AFTER REFERRED TO AS THE "NET ISSUE". THE PUBLIC ISSUE AND NET ISSUE WILL CONSTITUTE 27.11% AND 25.66% RESPECTIVELY OF THE POSTISSUE PAID-UP EQUITY SHARE CAPITAL OF OUR COMPANY. FOR FURTHER DETAILS, PLEASE REFER "ISSUE PROCEDURE" ON PAGE 189 OF THE PROSPECTUS.
| ISSUE | OPENED ON: TUESDAY, APRIL 30, 2019 |
| CLOSED ON: FRIDAY, MAY 03, 2019 | |
| PROPOSED LISTING: MAY 13, 2019 * | |
The Equity Shares offered through the Prospectus are proposed to be listed on the SME Platform of BSE Limited ("BSE") in terms of the Chapter IX of the SEBI (ICDR) Regulations, as amended from time to time. Our Company has received an approval letter dated April 11, 2019 from BSE Limited ("BSE") for using its name in the Offer Document for listing of our shares on the SME Platform of BSE. However, investors may refer to the entire Disclaimer Clause of BSE beginning on page 175 of the Prospectus. For the purpose of this Issue, the Designated Stock Exchange will be the BSE Limited. The trading is proposed to be commenced on or about May 13, 2019.
*Subject to the receipt of listing and trading approval from the BSE SME Platform.
All Applicants were allowed to participate in the Issue through APPLICATIONS SUPPORTED BY BLOCKED AMOUNT ("ASBA") process by providing the details of their respective bank accounts in which the corresponding application amounts were blocked by Self Certified Syndicate Banks (the "SCSBs").
SUBSCRIPTION DETAILS
The issue has received 73 applications for 504000 equity shares resulting in 1.35 times subscription (including reserved portion of Market maker). The details of applications received in the issue (before technical rejections) are as follows:
The details of applications received in the issue (before technical rejections) are as follows:
| Category | No. of applicants | % | No. of Equity shares | % | Subscription (times)* |
| Market Maker | 1 | 1.37 | 20,000 | 3.97 | 1 |
| Retail Individual Investors | 48 | 65.75 | 96,000 | 19.05 | 0.545 |
| Other than retail individual Investors | 24 | 32.88 | 3,88,000 | 76.98 | 2.20 |
| Total | 73 | 100.00 | 504000 | 100.00 |
* Subscription times have been computed based on the issue size as per the Prospectus.
The details of applications rejected by the Registrar on technical grounds (including withdrawal) are detailed below:
| Category | No. of applicants | No. of Equity shares |
| Market Maker | Nil | Nil |
| Retail Individual Investors | 1 | 2000 |
| Other than retail individual Investors | 1 | 10,000 |
| TOTAL | 2 | 12,000 |
After eliminating technically rejected applications, the following table gives us category wise net valid applications:
| Category | No. of applicants | % | Issue Size | No. of valid shares applied | % of Total Applied | Subscription (times) |
| Market Maker | 1 | 1.41 | 20,000 | 20,000 | 4.07 | 1 |
| Retail Individual Investors | 47 | 66.20 | 1,76,000 | 94,000 | 19.10 | 0.534 |
| Other than retail individual Investors | 23 | 32.39 | 1,76,000 | 3,78,000 | 76.83 | 1.465* |
| Total | 71 | 100.00 | 3,72,000 | 4,92,000 | 100.00 |
* After considering the spillover from the Retail Individual Investors.
Allocation: The Basis of Allotment was finalized in consultation with the Designated Stock Exchange - BSE Limited on May 08, 2019.
| A. | Allocation to Market Maker (After Technical Rejections): The Basis of Allotment to the Market Maker, at the issue price of Rs. 52 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1 time. The total number of shares allotted in this category is 20,000 Equity Shares. |
The Category-wise details of the Basis of Allotment are as under:
| No. of shares applied for (Category wise) | No. of Applications received | % To Total | Total No. of Equity Shares applied in each Category | % To Total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to Applicants: Ratio 1 | Ratio of Allottees to Appli cants: Ratio 2 | Number of Successful Applicant (after rounding off) | Total No. of Shares Allocated/ Allotted | No. of Shares Surplus/ Deficit |
| 20.000 | 20,000 | 100 | 20,000 | 100 | 20,000 | 20,000 | 20,000 | 1:1 | 1 | 20,000 | 0 | |
| Grand Total | 20,000 | 100 | 20,000 | 100 | 20,000 | 20,000 | 20,000 | 1 | 20,000 | 0 |
| B. | Allocation to Retail Individual Investors (After Technical Rejections): The Basis of Allotment to the Retail Individual Investors, at the issue price of Rs. 52 per Equity Share, was finalised in consultation with BSE. The category was subscribed by 0.534 times. The total number of shares allotted in this category is 94,000 Equity Shares to 47 successful applicants. |
The Category-wise details of the Basis of Allotment are as under:
| No. of shares applied for (Category wise) | No. of Applications received | % To Total | Total No. of Equity Shares applied in each Category | % To Total | Proportionate Shares Available | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to Applicants: Ratio 1 | Ratio of Allottees to Applicants: Ratio 2 | Number of Successful Applicant (after rounding ofl) | Total No. of Shares Allocated/ Allotted | No. Of Shares Surplus/ Deficit |
| 2000 | 47 | 100 | 94,000 | 100 | 94,000 | 2000 | 2000 | 100 | 100 | 47 | 94,000 | 0 |
| Grand Total | 47 | 100 | 94,000 | 100 | 94,000 | 47 | 94,000 | 0 |
| C. | Allocation to Other than Retail Individual Investors (Alter Technical Rejections & Withdrawal): The Basis of Allotment to the Non Institutional Investors, at the issue price of Rs. 52 per Equity Share, was finalized in consultation with BSE. The category was subscribed by 1.465 times. The total number of shares allotted in this category is 2,58,000 Equity Shares to 23 successful applicants. |
The Category-wise details of the Basis of Allotment are as under:
| No. of Shares Applied for (Category wise) | No. of Applications received | % To Total | Total No. of Equity Shares applied in each Category | % To Total | Proportinate Shares Available* | Allocation per Applicant (Before Rounding Off) | Allocation per Applicant (After Rounding Off) | Ratio of Allottees to Applicants: Ratio 1 | Ratio of Allottees to Applicants: Ratio 2 | Number of Successful Applicant (after rounding off) | Total No. of Shares Allocated/ Allotted | No. of Shares Surplus/ Deficit |
| 4000 | 8 | 34.78 | 32000 | 8.47 | 21841 | 2730.13 | 2000 | 1 | 1 | 8 | 16000 | -5841 |
| 2000 | 3 | 8 | 6000 | 6000 | ||||||||
| 6000 | 4 | 17.39 | 24000 | 6.35 | 16381 | 4095.25 | 4000 | 1 | 1 | 4 | 16000 | -381 |
| 8000 | 1 | 4.35 | 8000 | 2.12 | 5460 | 5460 | 6000 | 1 | 1 | 1 | 6000 | 540 |
| 10000 | 2 | 8.70 | 20000 | 5.29 | 13651 | 6825.5 | 6000 | 1 | 1 | 2 | 12000 | -1651 |
| 2000 | 1 | 2 | 2000 | 2000 | ||||||||
| 12000 | 1 | 4.35 | 12000 | 3.17 | 8190 | 8190 | 8000 | 1 | 1 | 1 | 8000 | -190 |
| 14000 | 1 | 4.35 | 14000 | 3.70 | 9556 | 9556 | 10000 | 1 | 1 | 1 | 10000 | 444 |
| 16000 | 1 | 4.35 | 16000 | 4.23 | 10921 | 10921 | 10000 | 1 | 1 | 1 | 10000 | -921 |
| 30000 | 1 | 4.35 | 30000 | 7.94 | 20476 | 20476 | 20000 | 1 | 1 | 1 | 20000 | -476 |
| 40000 | 2 | 8.70 | 80000 | 21.16 | 54603 | 27301.5 | 26000 | 1 | 1 | 2 | 52000 | -2603 |
| 2000 | 1 | 2 | 2000 | 2000 | ||||||||
| 70000 | 1 | 4.35 | 70000 | 18.52 | 47778 | 47778 | 48000 | 1 | 1 | 1 | 48000 | 222 |
| 72000 | 1 | 4.35 | 72000 | 19.05 | 49143 | 49143 | 50000 | 1 | 1 | 1 | 50000 | 857 |
| GRAND TOTAL | 23 | 100.00 | 378000 | 100.00 | 258000 | 23 | 258000 | 0 |
The Board of Directors of the Company at its meeting held on May 08, 2019 has taken on record the Basis of Allocation of Equity Shares approved by the Designated Stock Exchange viz. BSE Limited and has authorized the corporate action for allotment of the Equity Shares to various successful applicants.
The Refund/allotment intimation will be dispatched to the address of the Applicants as registered with the depositories on or about May 10, 2019. Further, the instructions to Self Certified Syndicate Banks for unblocking the amount will be processed on or prior to May 09, 2019. In case the same is not received within ten days, investors may contact Registrar at the address given below.
The Equity Shares allocated to successful applicants are being credited to their beneficiary accounts subject to validation of the account details with the depositories concerned. The Company is taking steps to get the Equity Shares admitted for trading on SME Platform of BSE Limited within six working days from the date of the closure of the Issue. Note: All capitalized terms used and not defined herein shall have the respective meaning assigned to them in the Prospectus dated April 22, 2019 ("Prospectus").
In terms of Prospectus dated April 22, 2019 and as per Regulation 253 of SEBI (ICDR) Regulations, 2018 v/herein a minimum of 50% of the Net Issue of shares to Public shall initially be made available for allotment to a) Retail Individual Investors as the case may be. The balance net offer of shares to the public shall be made available for allotment to b) individual applicants other than retail investors and other investors including corporate bodies / institutions irrespective of number of shares applied for. The unsubscribed portion of the net issue to any one of the categories specified in (a) or (b) shall/may be made available for allocation in any other category, if so required. Explanation: Chapter IX, part VIII (253) of SEBI (ICDR) Regulation, 2018. if the retail individual investor is entitled to more than fifty percent, on proportionate basis, the retail individual investors shall be allocated that higher percentage.
INVESTORS PLEASE NOTE
The details of the allotment made would also be hosted on the website of the Registrar to the Issue BIGSHARE SERVICES PRIVATE LIMITED at www.bigshareonline.com. All future correspondence in this regard may kindly be addressed to the Registrar to the Issue quoting full name of the First/Sole applicants, serial number of the Application Form, number of shares applied for and Bank Branch where the application had been lodged and payment details at the address of the Registrar given below:
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BIGSHARE SERVICES PRIVATE LIMITED |
| Address: 1st Floor, Bharat Tin Works Building, Makwana Road, Marol, Andheri (East), Mumbai - 400 059, India. | |
| Tel: +91 22 6263 8200 | Fax: +91 22 6263 8299; | |
| Contact Person: Mr. Ashok Shetty | Email: ipo@bigshareonline.com; | |
| Investor grievance email: investor@bigshareonlme.com | Website: www.bigshareonlme.com; | |
| SEBI Registration No.: INR000001385 | CIN: U99999MH1994PTC076534 |
| FOR EVANS ELECTRIC LIMITED | |
| On behalf of the Board of Directors | |
| Sd/- | |
| Place: Mumbai | Nelson Lionel Fernandes |
| Date : May 9, 2019 | Managing Director |
THE LEVEL OF SUBSCRIPTION SHOULD NOT BE TAKEN TO BE INDICATIVE OF EITHER THE MARKET PRICE OF THE EQUITY SHARE ON LISTING OR THE BUSINESS PROSPECTS OF THE EVANS ELECTRIC LIMITED.
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